Insight Report 3 minutes Premium

Ross Stores (ROST) 1Q17 Results Solid Quarter, Company Raises Outlook

Executive Summary

  • Ross Stores reported 1Q17 EPS of $0.82, up 12.3% from the year-ago quarter and above the $0.80 consensus estimate. Total revenues were $3.31 billion versus expectations of $3.27 billion, and were up 7% year over year.
  • Total comps increased by 3% for the quarter, beating the 2.4% consensus estimate; comp growth was driven by higher traffic as well asan increase in average basket size. Southeast Florida and the Midwest were the strongest-performing regions.
  • The company raised its FY17 EPS guidance to $3.07–$3.17 from $3.02–$3.15, compared with EPS of $2.83 in FY16; consensus calls for full-year EPS of $3.15. Ross Stores expects 2Q17 EPS of $0.73–$0.76, slightly below the $0.78 consensus estimate. The company expects 2Q17 comps to increase by 1%–2%.

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